Life's Mission Statement: Why Should You Have One?
As a partner of a bespoke shoe start-up, I have always been fascinated by the fact that nearly all the potential investors and benefactors we talk to almost always ask about our mission statement before anything else. “Why is this so important to them?” I would ask myself. I found no readily convincing answers so I decided to find out as much as I could about why potential business partners prize that piece of information above all others. The Oxford Dictionary defines a mission statement as the official statement of the aims of a company or organization. A business mentor told me it is the map that prefigures the destination of every business entity. Being my usual self, I was slow to agree with my mentor because I thought businesses could forge admirable mission statements and not necessarily live by them. “In that case, failure will become inevitable” he assured me. Jack Welch, Chairman and CEO of General Electric from 1981...